On the basis of the following data for Branch Co.for the current and preceding years ended December 31,prepare a statement of cash flows using the indirect method.Assume that equipment costing $125,000 was purchased for cash and the land was sold for $15,000.The stock was issued for cash and the only entries in the retained earnings account were for net income of $56,000 and cash dividends declared and paid of $18,000. 
Definitions:
Maximize Them
The process of making the most or best of certain resources, outcomes, or situations to achieve the highest possible benefit or efficiency.
Principal-agent Relationships
A framework within economics that describes the dynamics when one entity (the principal) hires another (the agent) to perform a task on their behalf, often involving delegation of decision-making authority.
Observability
The degree to which the internal states of a system are accessible to its external observation, often used in context of controlling complex systems.
Ideal Organization
A theoretical or model entity that operates with maximum efficiency, effectiveness, and ethics in achieving its goals.
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